This morning I was interviewed on Radio 4’s Today Programme about share buybacks. Friend or foe to shareholders? Destroyer or creator of value? You might think the answer is obvious, but think again.
Almost 20 years on from publishing my book, Accounting for Growth, I am exposing another loophole in the accountancy rules which is allowing companies to appear to have created value when they have not. You can listen to the interview here at approximately 2:42 hours, and read my arguments in full here.